TAIPEI (Taiwan News) — Chunghwa Telecom Chair Chien Chih-cheng (簡志誠) said Tuesday that the Taiwan dollar’s recent sharp appreciation against the US dollar has no major impact on the company’s finances.

The Taiwan dollar opened at NT$30.125 to the US dollar on Tuesday, raising market concerns about foreign exchange losses that could affect export-oriented industries, per CNA. However, Chien reassured stakeholders that Chunghwa is prepared to handle currency fluctuations.

“Chunghwa Telecom has hedging mechanisms in place whenever we purchase equipment or make investments in US dollars,” Chien said after attending a seminar on advancing high-speed internet and AI technology, per Liberty Times. “Our international subsidiaries also conduct business in US dollars, so gains and losses from currency exchange tend to offset each other.”

He said the company’s foreign equipment purchases account for a small portion of expenditures. Additionally, Chunghwa’s US subsidiaries operate entirely in US dollars, which helps neutralize exchange rate risks.

Regarding the company’s investments in submarine cables and satellite infrastructure, which are also priced in US dollars, Chien noted that payments are spread over time rather than made in lump sums. These expenditures represent a minor share of Chunghwa’s expenses, minimizing potential currency impact.

With these financial strategies, Chunghwa remains confident that it can maintain stable operations despite currency volatility, he added.